The danger of leaving your money on an exchange!

[Ozykalu2020 26]

The exchanges themselves usually advice about leaving your cryptocurrencies in the exchange. it is risky as it can be stolen whenever the exchange is hacked. 

[Adam adam 276]

Indeed, we now see many hacks of major platforms, including binanace, which were hacked in 2019 and had large losses. So I always recommend using a nano ledger because your money is really only under your control.

[Real Boss 48]

You are absolutely right,  there are so many hackers who can just hacked your account and get out your funds on the exchange so I will entreat all the begginers to enable 2fa for safe and convenient and reliability.

[JPCaMoney 404]

If you take risks, not all exchanges are serious and responsible. I, in particular, do not trust all of them, only some that I have been using, but I still do not leave much money there. 

[Longs 12]

It happens again and again that fraudsters are at work. There are so many examples that it is impossible to list them. But there are also many reputable companies that have been doing their work with high security standards for years. Therefore, you should always reach out before investing to make sure that you are placing your money in the right place.

[sakirajeba 78]

Yes it could get hacked, you could lose them, It's pretty dangerous. So many exchanges have shut down and not returned people's crypto. Bitfinex is one of the largest exchanges still running that got hacked and lost funds.. and of course mtgox was the biggest exchange ever in terms of BTC. Even if the exchange doesn't get hacked your account might. So many people have lost funds from coinbase due to sim swapping.

[david51 44]

leaving money on crypto exchanges is very dangerous because the exchange can be hacked. you should transfer your moey after tradig to your wallet

[delancer 29]

It is dangerous to steal all the money in one currency or in a young HYIP project.

[Shamsiddin 54]

It is possible , it might be you lodt money from your exchange balance . Now hackers are stoling money easily from internet. But yobit exchange is more safe place .

[Kenji129 2]

ее бой я нашел топик с еще 2019 года и могу сюда писать все что захочу , и на русском , кто любит кс пацаны , точнее мужчины 

[grite48 30]

I have always told my friends not to use exchange wallets as the main ones. When your private keys are not stored with you, this is not correct. The exchanges can be hacked or the owner will deceive you. When the wallet is on your device, problems with it can only be from you.

[Cryptpanda 153]

Not all the exchanges are scam some exchanges are real too. Binance and yobit are the oldest exchanges in the world of crypto but they never cheated anyone. Don’t take feat on your money while you are out of your control 

[futbol 59]

On 24/3/2020 at 17:18, johant123 said:

(Publicar esto en la sección para principiantes a propósito, porque quiero advertirles)

 

Aquí hay otro caso en el que el propietario de un intercambio pierde la clave privada que le da acceso a una gran pila de Bitcoins, probablemente ni siquiera le pertenece. El momento es muy desafortunado (para todos los demás) porque el propietario del intercambio ya estaba siendo investigado;

 

https://thenextweb.com/hardfork/2019/11/01/ceo-loses-private-key-crryptocurrency-exchange-wallet/

 

Este enlace fue compartido aquí en el foro anteriormente, ¡pero los comentarios de muchos de los miembros realmente me asustan! Muchos parecen creer que el propietario realmente perdió el acceso y fue un hombre muy descuidado y desafortunado. Bueno ... eso es posible, en teoría ... pero ...

 

Creo que aquí están sucediendo dos cosas:

- ¿No es muy conveniente que el propietario pierda las llaves cuando se investigan los fondos?

- ¡Esto muestra que sus fondos nunca son realmente suyos, a menos que tenga la clave privada de sus billeteras!

 

La lección más importante, en mi opinión: ¡nunca dejes grandes sumas de dinero en un intercambio o en una billetera de custodia! Y no creas a alguien solo en su triste historia ... ¡bien puede ser un fraude!

Certainly that is correct, the most suitable place to protect (if we have a large sum of money) are the wallets, specifically the best wallet is the one that is not connected to the Internet and that is Trezor. When we protect a lot of money in an exchange we will indirectly be being watched because that is not common, apart from that the user suffers from the limitation of not being able to withdraw or move a certain amount of cryptocurrencies because otherwise they would be suspicious.
Also, safeguarding large sums of money can be considered as you affirm it an attempt to cover a fraud or to obscure an illicit activity and what better than an exchange to be able to do it, because it is not like a bank where they can track you and freeze your account, in an exchange that will never happen.
But that security is what makes private keys a convenience factor to use them for good use or, on the contrary, if a loss is justified, no one will have access to that account, so it is very strange to me that curiously when a defendant is You are involved in an accusation and investigation by chance you lost your private key, that means that you have it and you are hiding it.

[ekraali 32]

Any one has to dont leave  money on an exchange so may be hacker stolen it

[cesarock11 23]

If there is undoubtedly a high risk to leave all your assets in an exchange, because they can be attacked and stolen or they can also be exchanges that can become scam over time, just use the percentage that you plan to use to trade, and your other assets have them safe elsewhere.

Edited October 11, 2020 by cesarock11

[wassim19 645]

Yes, my friend, the stock exchange is not very safe, and it is often used for trading, so whoever wants to store currencies should go to safe wallets.

[mar123 95]

Thanks for the warning and for placing them in the beginners section, since many of us are unaware of these dangers and how good it is that we can find this quality content and guidance.

[beydi2021 31]

Well the issue of the key to access your wallets or exchanges is never ending, but what I do not think is that this security is worth in relation to the wallet or exchange that you are using, I think that goes more in the way of one handles and stores personal data. Of course, some wallets or exchanges are safer than others.

[gusa20 119]

It is never advisable to leave the money in an exchance but in a wallet since in these they give us the private keys and with this we have total control of the cryptocurrency that we have, an exchange, no matter how secure it is, can suffer hacker attacks and it will not give us private keys

[CRISTIAN FERNANDEZ 32]

I have spent time leaving my funds in various exchanges such as crypto.com and binance, but before doing so I have done a lot of analysis and searched for information about the platforms .. and from what I have experience it is very important that they have a very user assistance active for any inconvenience they can solve me quickly and keep me informed of any news .. telegram groups continually solving doubts

[Jeofrey 162]

I agree but we should search before we invest money in exchange, that's the reason we face scams because  now a days we can't trust without any information, I can't understand peoples like this fraud exchanges, because in online so many legit exchange are available like yobit binance kucoin and so many.

[DunnoRND 55]

having money on an exchange in convenient, you can trade it whenever you want, you should also have some part of the money on your local wallet, just to be safe.

[herme07 71]

7 hours ago, German Cano Celis said:

 

On an Exchange platform, traders can exchange fiat money for the cryptocurrencies they want to buy. In turn, they have the option of exchanging their currencies for different ones. That is, you can exchange fiat money for digital money, just like one digital currency for another. Activities carried out on an Exchange platform can become business for some people, since it is also possible to save on these websites to earn money. How? By means of limit trading, in theory it is quite simple, you just need to have insight and look closely at the numbers: On days when the value of a cryptocurrency falls, it is ideal to buy; When the value of the currency rises again, it is perfect to sell. With such a simple operation it is possible to increase our income, just as the stock brokers do on Wall Street; only from our home and through an Exchange. In the market price purchase and sale modality, users or traders carry out their transactions by buying cryptocurrencies at the cost that has been established by supply and demand in the market. Now, surely they have been enthusiastic about the idea of buying and selling cryptos to generate some more money; But before making the final decision on which is the best type of exchange to use or what work to do in them, we recommend that you read the following advantages and disadvantages.

This is an excellent way to tell how the world of cryptocurrency exchange is handled.
Very well explained and gives us quite varied alternatives.
Thanks to the colleague for his very good vision of the exchange, with this information and a bit of analytical criteria, I think that no one should have serious problems.

 

[DennisChannels 238]

On 3/25/2020 at 6:18 AM, johant123 said:

Here is another case of the owner of an exchange losing the private key that gives access to a large stack of Bitcoins, probably not even belonging to himself. The timing is most unfortunate (for everyone else) because the exchange owner was under investigation already;

 

https://thenextweb.com/hardfork/2019/11/01/ceo-loses-private-key-crryptocurrency-exchange-wallet/

This case is terrible. I always thought hackers were the main potential risk of exchanges, but in the case of custodial exchanges... I would say "RUN!!"

 

Seems it's a minor exchange, really local, so before believing all exchanges are the same, some previous investigation can save your life. 

[josefjimenez 100]

It is a very serious problem to lose the keys, this information is useful for me because I am new to the world of cryptocurrencies, I will really be very careful.